The Spanish infrastructure giant, Ferrovial, has revealed its intention to divest its 25% stake in London Heathrow, the busiest airport in Europe. The buyer includes the Saudi Public Investment Fund (PIF), which also owns Newcastle United, acquiring a 10% share, and the French company Ardian, securing a 15% stake. Ferrovial, the airport’s primary shareholder since 2006, anticipates a profit of nearly £2.4 billion from the transaction. This decision follows a surge in traveler numbers, prompting the investor to proceed with the sale.
Heathrow Airport has witnessed a notable increase in passenger traffic, with seven million travelers in the previous month, reflecting a 19% rise compared to the same period last year. The completion of the sale is contingent upon regulatory approval. The Saudi PIF, led by Prince Mohammed bin Salman Al Saud, will become the latest sovereign wealth fund to join Heathrow’s stakeholders, alongside the Qatar Investment Authority.
Luke Bugeja, CEO of Ferrovial Airports, expressed satisfaction with the company’s contributions to Heathrow’s development over the past 17 years, citing achievements such as a £12 billion investment, the construction of Terminal 2, and enhancements to operational performance.
Heathrow’s newly appointed CEO, Thomas Woldbye, emphasized his commitment to improving the airport for customers and the British economy. The former Copenhagen airport chief executive outlined plans for multi-billion-pound upgrades, including a new baggage system in Terminals 2 and 3D security scanners.
Despite the challenges posed by the COVID-19 pandemic, Heathrow’s passenger numbers in September surpassed pre-pandemic levels, marking a significant milestone in its recovery journey. Woldbye expressed humility and excitement about the opportunity to lead the airport into its next phase of development.